ETF · Broad Market

XRT(XRT)

$83.70
+0.46%
Expense Ratio
$217M
Total AUM
Holdings
Inception
Active Share vs VOO
Truly Active
0%20%60%100%
95.2%

AI Look-Through Summary

AI Generated

The XRT ETF maintains a relatively modest asset base of $200 million, which suggests lower liquidity compared to larger-scale vehicles in the same space. Its sector allocation is heavily skewed toward consumer cyclical industries, accounting for 43.6% of total exposure, while defensive sectors comprise only about one-tenth of the portfolio at 10.8%. This structural tilt implies that the fund's performance will be significantly correlated with discretionary spending trends rather than essential goods demand. The concentration within this primary sector is notable given the specific composition of top holdings; positions in major e-commerce and retail entities like Amazon, eBay, and Etsy each represent approximately 1.6% to 1.8% of assets under management. While individual weights appear moderate on their own, the cumulative effect of holding multiple large-cap consumer names alongside smaller or less clearly defined issuers creates a dense cluster within this single industry classification.

Geographic exposure cannot be explicitly derived from the provided data points, as ticker symbols and sector labels do not inherently reveal country-specific allocations without external mapping. However, the presence of global giants like Amazon and eBay suggests a significant footprint in developed markets where e-commerce infrastructure is mature. Quantitatively, the fund exhibits a high degree of idiosyncratic risk due to its reliance on a narrow set of consumer cyclical drivers rather than broad market diversification. The top ten holdings collectively represent a substantial portion of the portfolio's value, with several names tied at identical weightings, indicating a potential rebalancing strategy or similar investment thresholds among fund managers tracking this specific mandate. Investors examining this vehicle should weigh the benefits of concentrated exposure to leading digital and physical retail players against the lack of diversification across defensive sectors and potentially varying geographic regions not detailed in the current snapshot.

Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-23 23:50:27.018707+00

🔍 Theme Alignment Audit

AI GeneratedPurity: 45/100

The thematic alignment between the fund's name and its actual composition reveals a significant divergence. While the ticker XRT typically denotes exposure to regional banks, the provided holdings list consists almost entirely of retail-focused entities within the Consumer Cyclical sector, such as eBay, Amazon, and Etsy, alongside several unclassified positions like HZO and MUSA that do not fit a banking narrative. This discrepancy suggests the fund may be utilizing a thematic name while tracking assets driven by consumer spending patterns rather than financial services leverage or regional economic indicators found in traditional bank indices. The presence of multiple holdings marked as "N/A" further obscures whether these specific positions are intended to support a broader theme or if they represent data gaps that weaken the stated investment thesis.

Sector coherence is present but limited, with Consumer Cyclical stocks dominating at 43.6%, yet this concentration does not differentiate the fund from broad consumer indices given the heavy weighting toward mega-cap retailers like Amazon and eBay in the top positions. The secondary exposure to Consumer Defensive sectors adds stability but dilutes any potential for high-growth thematic returns associated with volatile retail cycles. Although the top-10 concentration remains relatively low at 17.2%, indicating a diversified portfolio within its chosen sector, the fundamental disconnect between the implied banking theme and the actual retail-heavy asset allocation creates ambiguity regarding the fund's true risk profile. Investors observing these holdings would likely find that the performance drivers are more closely tied to e-commerce trends than regional credit quality or interest rate sensitivity associated with bank stocks.

AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-23 19:02:03.079478+00

🏢 Sector Analysis

AI Generated

The XRT ETF exhibits a pronounced exposure to the Consumer Cyclical sector, which accounts for 43.6% of its portfolio across thirty-three holdings. This heavy weighting suggests an investment thesis centered on companies whose revenues fluctuate significantly with economic cycles and consumer discretionary spending power. In contrast, the allocation to Consumer Defensive stocks stands at only 10.8%, indicating a deliberate underweighting relative to typical broad market benchmarks that often seek stability through these sectors during periods of uncertainty. This structural tilt implies the fund is positioned for environments where robust consumer demand persists but may not prioritize capital preservation over growth potential derived from cyclical trends.

Concentration risk within this vehicle appears moderate, with the top ten holdings comprising just 17.2% of total assets under management. Despite having only five specific securities listed among the largest positions, their individual weights hover around 1.8%, suggesting a strategy that favors diversification across many names rather than relying on heavy reliance in mega-cap leaders like Amazon or eBay. The presence of multiple holdings with identical weightings further points to an index-tracking methodology designed to maintain uniform representation within sector buckets rather than actively concentrating capital on perceived outperformers.

Factor tilts inferred from this allocation profile likely include a bias toward momentum and growth, given the dominance of consumer discretionary names which often trade at higher valuations compared to defensive peers. However, the relatively low concentration in any single top holding mitigates some of the idiosyncratic risks associated with individual stock volatility. Ultimately, the fund's structure reflects a clear bet on cyclical economic expansion while maintaining sufficient breadth across thirty-three sector-specific names to dilute exposure to any single corporate event or industry shock.

AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-23 13:02:52.087513+00

Flow Driver Analysis

2-Step Circle

Which larger ETFs share XRT's holdings — and mechanically drive its price through index rebalancing flows?

Approximately 100% of XRT's weight flows through these larger ETFs

Driver ETFAUMExpenseShared StocksWeight Overlap
SPTMSPTM$12B5981.9%
VCRVCR$6B5876.9%
ONEOONEO$25M3852.4%
VFVAVFVA$758M2636.2%
VBRVBR$62B2333.2%

82% of XRT's portfolio by weight is also held by SPTM, which commands 54× more assets under management. When SPTM receives inflows, it mechanically buys these shared stocks — dragging XRT's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofXRT's weight.

Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.

ETF Look-Through Dashboard

Replaces $249/yr Morningstar

Peer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.

17.0x
Weighted P/E
4.33x
Weighted P/B
0.86%
Dividend Yield
$86B
Wtd Avg Market Cap

Weighted metrics calculated based on 84% of fund assets with available data.

Herfindahl-Hirschman Concentration Index

01000200030004000138
Well Diversified
Top 5: 7.8%Top 10: 15.5%

Morningstar-Style Box

Value
Blend
Growth
Large
Mid
Small
Mid Blend

Sector & Cap Explorer

Other45.6%Consumer Cyclical43.6%Consumer Defensive10.8%
Visualization Mode

ETF Fundamental Radar

Total Analysis
96% Weight
Market Cap
Mid
Risk Profile
Moderate

Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.

Piotroski F-Score (Operational Health)

Score 0-9: Measures Profitability, Leverage, and Efficiency

↑ Weight (%)100%80%60%40%20%
7%
0–3 Weak
67%
4–6 Average
23%
7–9 Strong

Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation. Data that Vanguard and BlackRock don't surface.

Dividend Safety True-Up

Deterministic
104%
Wtd FCF Payout Ratio
0.64%
TTM Yield
At Risk
Dividend Durability
104% of FCF
0% (retains all cash)50%100% (pays out everything)

The dividend-paying companies inside XRT collectively pay out 104% of their Free Cash Flow to maintain the current yield. Warning: constituent companies are paying out nearly all cash flow. A wave of dividend cuts may be imminent if earnings decline. Based on 43% of fund weight in dividend-paying stocks.

FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.

Earnings vs. Price Decomposition

Proprietary
+8.9%
ETF 1Y Return
+11.5%
Wtd Earnings Growth
-2.6%
Multiple Contraction
Earnings

XRT is up 8.9% over the last 12 months. The underlying weighted earnings growth of its constituents is +11.5%. Despite earnings growth, valuations have contracted by 2.6% — the market is paying less per dollar of earnings than a year ago.

Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 93% of fund weight with earnings data. Not investment advice.

Value Creation Map

ROIC vs WACC

What percentage of XRT's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?

61% Creators
39% Destroyers
Value Creators (ROIC > WACC)44.4%
Value Destroyers28.4%

Of XRT's analyzed weight, 61% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 39% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.

ROIC-WACC spread for 73% of fund weight with available data. Not investment advice.

Passive Crowding Score

LOW

How much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.

23/ 100
Wtd Avg Passive Ownership6.8%
Most Crowded HoldingTSCO (25.8%)
Least CrowdedDDS (0.2%)
Coverage84% of fund weight
0 — Low255075100 — Extreme

XRT has a low Passive Crowding Score of 23/100. On average, 6.8% of the market capitalization of XRT's underlying holdings is structurally locked in passive ETF vehicles. This indicates relatively low passive crowding — the underlying stocks have ample active-market liquidity to absorb ETF-driven flows without significant price distortion.

Passive $ = Σ(ETF AUM × holding weight) across all 5 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.

Under the Hood — Top 15 Constituents

Top 10 Concentration17.2%
#TickerCompanyWeightP/EF-Score
1GO
GROCERY OUTLET HOLDING CORP
1.83%
2EBAY
EBAY INC
Consumer Cyclical
1.81%
25.2x4/9
3AMZN
AMAZON.COM INC
Consumer Cyclical
1.79%
31.7x6/9
4SAH
SONIC AUTOMOTIVE INC CLASS A
1.75%
19.6x5/9
5MUSA
MURPHY USA INC
1.74%
20.9x6/9
6CASY
CASEY S GENERAL STORES INC
Consumer Cyclical
1.71%
40.6x5/9
7M
MACY S INC
1.67%
7.7x7/9
8HZO
MARINEMAX INC
1.66%
9ETSY
ETSY INC
Consumer Cyclical
1.64%
26.0x5/9
10URBN
URBAN OUTFITTERS INC
1.61%
12.2x8/9
11DKS
DICK S SPORTING GOODS INC
Consumer Cyclical
1.61%
19.1x4/9
12SFM
SPROUTS FARMERS MARKET INC
1.61%
14.5x6/9
13PSMT
PRICESMART INC
1.60%
30.0x5/9
14VSCO
VICTORIA S SECRET + CO
1.59%
22.4x5/9
15AAP
ADVANCE AUTO PARTS INC
Consumer Cyclical
1.56%
45.1x4/9
The bottom 60 stocks in XRT account for only 74.8% of the total fund weight.

Historical Holdings Snapshots

Browse how XRT’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.

2026-05-24

15 holdings · 25.2% tracked weight
#TickerWeightSharesMarket Value
1GO1.83%1,535,770
2EBAY1.81%103,806
3AMZN1.79%44,760
4SAH1.75%154,941
5MUSA1.74%21,464
6CASY1.71%13,931
7M1.67%545,016
8HZO1.66%325,738
9ETSY1.64%180,687
10URBN1.61%146,581
11DKS1.61%48,695
12SFM1.61%126,356
13PSMT1.60%65,244
14VSCO1.59%210,827
15AAP1.56%178,542

2026-05-23

15 holdings · 25.2% tracked weight
#TickerWeightSharesMarket Value
1GO1.83%1,535,770
2EBAY1.81%103,806
3AMZN1.79%44,760
4SAH1.75%154,941
5MUSA1.74%21,464
6CASY1.71%13,931
7M1.67%545,016
8HZO1.66%325,738
9ETSY1.64%180,687
10URBN1.61%146,581
11DKS1.61%48,695
12SFM1.61%126,356
13PSMT1.60%65,244
14VSCO1.59%210,827
15AAP1.56%178,542

2026-05-22

15 holdings · 25.4% tracked weight
#TickerWeightSharesMarket Value
1GO1.88%1,348,430
2EBAY1.86%91,146
3MUSA1.80%18,844
4CASY1.79%12,231
5AMZN1.79%39,300
6SAH1.72%136,041
7SFM1.68%110,936
8ETSY1.66%158,647
9HZO1.65%285,998
10M1.64%478,536
11PSMT1.63%57,284
12DKS1.61%42,755
13CART1.61%226,708
14URBN1.58%128,701
15COST1.56%8,443

2026-05-21

15 holdings · 25.6% tracked weight
#TickerWeightSharesMarket Value
1GO1.92%1,039,286
2MUSA1.88%14,521
3CASY1.83%9,426
4EBAY1.83%70,257
5AMZN1.79%30,291
6SFM1.75%85,493
7SAH1.74%104,856
8CART1.63%174,733
9COST1.63%6,533
10PSMT1.62%44,150
11ETSY1.60%122,281
12M1.60%368,811
13WMT1.59%52,153
14DKS1.59%32,954
15HZO1.58%220,427

2026-05-20

15 holdings · 25.5% tracked weight
#TickerWeightSharesMarket Value
1MUSA1.86%12,556
2CASY1.83%8,151
3EBAY1.82%60,747
4AMZN1.82%26,196
5GO1.79%898,766
6SAH1.76%90,681
7SFM1.71%73,928
8WRBY1.65%219,312
9HZO1.63%190,622
10ETSY1.63%105,751
11PSMT1.63%38,180
12CART1.62%151,108
13COST1.59%5,648
14WMT1.57%45,103
15DKS1.57%28,499

2026-05-19

15 holdings · 25.4% tracked weight
#TickerWeightSharesMarket Value
1EBAY1.86%41,757
2MUSA1.85%8,626
3CASY1.83%5,601
4AMZN1.82%18,006
5SAH1.76%62,331
6GO1.75%617,756
7SFM1.66%50,798
8WRBY1.66%150,732
9HZO1.66%131,012
10DKS1.62%19,589
11ETSY1.62%72,691
12PSMT1.60%26,240
13CVNA1.59%61,878
14PAG1.58%25,462
15CART1.58%103,858

Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.

Risk Profile

27.0%
Annual Volatility
0.88
Sharpe (1Y)
0.40
Sharpe (3Y)
-25.6%
Max Drawdown (3Y)
-44.6%
Max Drawdown (5Y)

Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.

Price Chart with Moving Averages

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What Drove XRT Today?

Daily return attribution — which holdings contributed most (and least) to the fund's move.

Fund move:+0.46%(2026-06-02)

Top Contributors

+0.118%
+0.089%
+0.047%

Top Detractors

-0.014%
-0.021%
-0.032%

Attribution = holding weight × stock daily return. Only the top contributors and detractors are shown.

Underwater (Drawdown from Peak)

How far below the all-time high the price has been over time. Deeper = more pain for holders.

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Rolling 60-Day Beta vs S&P 500 (VOO)

How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.

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Rolling Beta Market (β = 1.0)

Yield & Income

0.64%
TTM Yield
30-Day SEC Yield
5Y Div CAGR

Sector Drift Over Time

How XRT’s sector allocation has shifted across snapshots. Use the slider to travel through time.

2026-05-2456 snapshots
Other45.6%
Consumer Cyclical43.6%
Consumer Defensive10.8%
Change since 2026-03-30
Other
+0.9%
Consumer Defensive
-0.8%
2026-03-302026-05-24

Active Conviction Tracker

Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.

No position changes detected between snapshots.

Explore More

Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-02.

SecuritiesDB is for informational purposes only. Not investment advice.